Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is the purpose of performing Audit Data Analytics (ADAs)?
What is the purpose of performing Audit Data Analytics (ADAs)?
- To access and prepare the data for purposes of the ADA
- To determine the financial statement items or accounts
- To discover and analyze patterns, anomalies, and other information for the purpose of planning and performing an audit (correct)
- To evaluate the results and conclude on whether the purpose and specific objectives of performing the ADA have been achieved
What is the first step in the 5-Step Process to Performing Audit Data Analytics (ADAs)?
What is the first step in the 5-Step Process to Performing Audit Data Analytics (ADAs)?
- Plan the ADA (correct)
- Perform the ADA
- Consider the relevance and reliability of the data used
- Access and prepare the data for purposes of the ADA
What do auditors consider when planning the ADA?
What do auditors consider when planning the ADA?
- Consider the relevance and reliability of the data used
- Access and prepare the data for purposes of the ADA
- Determine the financial statement items or accounts, or disclosures, and related assertions (correct)
- Evaluate the results and conclude on whether the purpose and specific objectives of performing the ADA have been achieved
What is the fourth step in the 5-Step Process to Performing Audit Data Analytics (ADAs)?
What is the fourth step in the 5-Step Process to Performing Audit Data Analytics (ADAs)?
Signup and view all the answers
What does the science and art of using analysis, modeling, and visualization aim to do?
What does the science and art of using analysis, modeling, and visualization aim to do?
Signup and view all the answers
Flashcards are hidden until you start studying
